NOT TRUSTED: IGG Orders Verification Of Kasekende’s Declared Wealth

The year 2018 is one deputy governor Bank of Uganda Louis Austin Kasekende, would love to forget in his entire illustrious career as a n economist, bank and civil servant.

After declaring his income, assets and liabilities as required by the Inspector General of Government (IGG), under the leadership code Act 2002, in a gesture of lack of trust, the ombudsman went ahead assigned two its officer to verify information provided by deputy governor to ascertain that he was not lying and or hiding anything.

Kasekende declared his annual income at Shs559,848,000 million, with allowances pegged at Shs162,798,484 million. The deputy governor listed assets especially commercial buildings worth over Shs50bn with the most expensive being a commercial building co-owned with Andrew Kasekende, on Gaba Close valued at Shs2.1bn.

Kasekende’s declared properties are based in Kampala’s high end neighborhoods including Ntinda, Naguru, Gaba and Kololo, plus upcoming suburbs like Lubowa. The deputy governor also declared 5 commercial properties with the least priced being valued at 0.39 billion and one residential property whose valued was listed as 0.5 billion.

Other assets listed by the deputy governor include two Mercedes Benz cars, and one Toyota Hilux Pick-Up truck. Kasekende’s sources of income were declared income from 3489 shares held in GreenHill Holdings which owns a school, savings from salary, allowances and research grants.

Other sources of income listed were gratuity payments from BOU, AFB and World Bank loans, loans from other commercial banks, rental income, and pension from BOU and disturbance allowance from his employer, Bank of Uganda.

However in an 18th October, 2018, letter, the IGG assigned Mr. Victor Acidri, a Senior Principal Inspectorate Officer and Ms Doreen Tusiime, an Inspectorate Officer to conduct the verification exercise and obtain information in respect to what Kasekende had declared.

The IGG, in a letter titled ‘verification of your declarations of income, assets and liabilities’ and signed off by Annet K. Twine, asked Kasekende to accord the officers corporation and also provide necessary assistance they required. “

“This is to notify you of the decision by the Inspectorate of Government (IGG) to conduct a verification of your Income, Asssts and Liabilities as provided under Section 4C of the Leadership Code Act, 2002. The verification exercise shall commence within 7 (seven) days from the date of this letter,” the letter said.